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Chris Dodd to step aside

Embattled Connecticut Sen. Chris Dodd (D) has scheduled a press conference at his home in Connecticut Wednesday at which he is expected to announce he will not seek re-election, according to sources familiar with his plans.

Dodd's retirement comes after months of speculation about his political future, and amid faltering polling numbers and a growing sense among the Democratic establishment that he could not win a sixth term. It also comes less than 24 hours after Sen. Byron Dorgan (D-N.D.) announced he would not seek re-election.

State Attorney General Richard Blumenthal is widely expected to step into the void filled by Dodd and, at least at first blush, should drastically increase Democrats' chances of holding the seat.

Blumenthal, who has served as state Attorney General since 1990, is the most popular politician in the state and has long coveted a Senate seat; he had already signaled that he would run for the Democratic nomination against Sen. Joe Lieberman (I) in 2012. (A sidenote: Assuming Blumenthal gets in to the race, Rep. Chris Murphy could be the long-term beneficiary as he is widely regarded as a rising star and would be at the top of the list of Democratic hopefuls to challenge Lieberman in 2012.)

Without Dodd as a foil, Republicans chances of taking over a seat in this solidly blue state are considerably diminished. Former Rep. Rob Simmons and wealthy businesswoman Linda McMahon are battling it out for the Republican nod but either would start as an underdog in a general election matchup with Blumenthal.

Dodd joins North Dakota Sen. Byron Dorgan on the sidelines for Democrats. Six Republicans Senators are not seeking re-election in November.

Dodd's retirement comes roughly two years after his presidential ambitions came to an end in the Iowa caucuses. Dodd, always a longshot in a field filled with better known and better financed candidates, had moved his family to the Hawkeye State in the fall of 2007 in hopes of generating some excitement for his bid. The move backfired on the Democratic incumbent as many Connecticut voters bristled.

Once among the safest of incumbents, Dodd's numbers plummeted in the spring of 2009 before rebounding somewhat over the summer. But, a Quinnipiac University poll conducted late last year showed significant slippage for Dodd and led to widespread speculation that he had to vacate the seat for his party to have a chance at retaining it in the upcoming midterm elections.

Dodd's troubles were politically ironic, coming at a time when his power on Capitol Hill had reached a breath-taking level that most legislators dream of but never come close to achieving. In the last 18 months Dodd has been the primary author or co-author of legislation re-writing housing mortgage rules; the $700 billion bailout of Wall Street; key portions of the $787 billion stimulus package; a consumer protection bill overseeing the credit card industry; and the nearly $900 billion health-care legislation that has passed the Senate is in final negotiations with the House now.

Much of this work was done through his chairmanship of the Senate banking committee, but he also held powerful posts on the health and foreign relations committees. With each major piece of legislation Dodd ushered into law in recent years, came criticism that he did not anticipate. The mortgage bill came in mid-2008, which some said was delayed because of Dodd's presidential aspirations, and the financial bailout became one of the most unpopular pieces of legislation passed in recent memory. His work on the stimulus bill, approved last February, was an attempt to rein in executive compensation at firms that had been bailed out, but instead led to sharp criticism when executives at AIG, the largest recipient of taxpayer dollars, still received seven-figure bonuses shortly thereafter.

That's it?! We just let Dodd fade away and enjoy his ill gotten gains? How many health and banking corporations did his wife receive compensation from while hubby was writing regulations for the same? Was it 15? The two of them should spend the rest of their lives in jail for bribery!

Dodd did what he could. Luckily there are 6 Republican senators quitting to two Dems. Maybe more will quit to teabag their friends at home and quit slurping at the Federal teat. Maybe those Repubs will finally walk it like they have talked it for a hundred years of corrupt history, since the end of Reconstruction. Maybe we can get a new Gifford Pinchot out of it.

The only GOP nominee that actually matters in the CT race is Peter Schiff. None of the other candidates understand economics, Peter Schiff does. We as a nation should want this person in the Senate.
A big government pro-war pro-debt democrat or a big government pro-more-war pro-debt republican is not what will get us out of this mess which we call our economy!

If they throw this bum out NOW, he can't do much more damage. Of course, there are some legal issues. Did he take bribe money over Freddie/Fannnie? How many cronies were fed taxpayer money? If a good, honest prosecutor can take the case, Dodd could be prosecuted under RICO. There're more rats inside the beltway that need to be brought up on charges. The story leaves out a very important aspect of what's happening. There's a growing revolt against the old big government types, dem-repub. There's a new generation of leaner and meaner Constitutionalists that see government as a major problem. Rising stars like Peter Schiff can do far more good for CT than any of the dems or recycled repub hacks.

If they throw this bum out NOW, he can't do much more damage. Of course, there are some legal issues. Did he take bribe money over Freddie/Fannnie? How many cronies were fed taxpayer money? If a good, honest prosecutor can take the case, Dodd could be prosecuted under RICO. There're more rats inside the beltway that need to be brought up on charges. The story leaves out a very important aspect of what's happening. There's a growing revolt against the old big government types, dem-repub. There's a new generation of leaner and meaner Constitutionalists that see government as a major problem. Rising stars like Peter Schiff can do far more good for CT than any of the dems or recycled repub hacks.

You know, there is one guy who predicted (literally, the guy wrote an entire bestselling book on it in '06) the housing bubble and the recession who happens to be running for CT Senate in 2010. His name is Peter Schiff, and his limited government movement is rapidly gaining steam not only among CT voters but the entire nation as well. It's not just a 2 way race for the Republican nomination, you should edit your article as the guy has raised almost $1.4 million :)

Chris Dodd ended up with 5,000.000.00 in his bank account after an earmark he got passed that bridged two highways.
I cannot imagine what his retirement is costing us... bend over america, chris wants you to meet his li'l friend!

"Of course the article left out the one person who saw the sub-prime debacle coming a mile away and wants a smaller, limited government with less taxation, and more freedom. Return to the Constitution!"

Of course the article left out the one person who saw the sub-prime debacle coming a mile away and wants a smaller, limited government with less taxation, and more freedom. Return to the Constitution! Elect Peter Schiff!
Free Irwin Schiff!
End the FED!
Abolish slavery-Abolish the IRS!

I SAY THIS IS A FEINT, AND DODD'S GOING TO PULL A KENNEDY:
"KENNEDYS -- AND DODDS -- DON'T QUIT!"

Dodd got a bad rap on the VIP loan. Ted Kennedy would take him to the woodshed, if he were still with us, for even considering throwing in the towel.

Senator, you can beat this -- how about pulling a double-reverse and use the publicity Chris Cillizza has given you by "taking the bait," and announce that both "Kennedys and Dodds don't quit, and I'm in this race to WIN!" Try it. What have you got to lose? You can always change your mind later. But once you are out, you're out.

Or is this already your strategy, and you are playing Cillizza like a fiddle?

Senator, stick around. You'll win re-election -- and you can help cure THIS American shame:

To bad, I had hoped the GOP would pick up this seat. Oh well it all comes out in the wash. The GOP gains a far better seat to take and hold for the future in ND and at least we don't have to hear about Dodd and his corruption anymore. I expect to hear of more old Dem retirements over the next month.

To bad, I had hoped the GOP would pick up this seat. Oh well it all comes out in the wash. The GOP gains a far better seat to take and hold for the future in ND and at least we don't have to hear about Dodd and his corruption anymore. I expect to hear of more old Dem retirements over the next month.

"Without Dodd as a foil, Republicans [sic] chances of taking over a seat in this solidly blue state are considerably diminished."

If Chris Cillizza thinks this kind of phraseology is "analysis," he is laboring under a heavy and severe misapprehension.

It is tone-deaf, synthetic drivel.

Republicans may or may not pick up this particular seat; but given the nation's mood subsequent to the disastrous Democrat-hack agenda, "solidly blue" Connecticut voters do not need a "Chris Dodd foil." There will be backlash due in part to Dodd as well as the other well-known wackos (we know their names); and Dodd stepping aside is not going to "magically neutralize" voter disillusionment.

You wonder if the media's pathological obtuseness is generally deliberate, or if the crooked circular logic they farcically call "analysis" stems from real deep-seated delusion in earnest.

This is another stunning development. Dorgan and now Dodd. I wonder if Harry Reid is next on the chopping block. This is going to be a very good year for The GOP and conservatives in general, although Dodd's replacement may be harder to beat than him....Read: Obama at a cross roads...at...

What CT needs now is someone who actually PREDICTED the financial crisis before it happened. That man is the only one running who knows how to help our situation and he's the only candidate not mentioned in this article: Peter Schiff.

These criminals have sold the US down the river and in doing so already knew they threw themselves under the bus just to pass the biggest boondoggle in history of modern man. I really hope against hope states and their attorney generals get together and prosecute these liars and cheats to the fullest extent and they spend the rest of their miserable lives in jail with Maddow.

The Republican race in CT is not simply a 2-horse race between McMahon and Simmons! Peter Schiff is on the move with a message that resonates with many, many disaffected, disenchanted, and otherwise disgruntled voters that have seen their representatives (from both parties) misrepresent them once elected. Peter Schiff is a fresh voice of reason and sanity in an otherwise dull field. Check him out...

One can only hope that Democratic Senators and Representatives are stepping aside so they can vote this abonable health care reform bill down, while resisting pressure from the leadership and DNC. I'm not optimistic but I think even the most jaded politician knows this is the wrong way to reform a quarter to a third of the economy. Idealists will shout their praises...but this country deserves a whole lot more than this bill gives.